Annual inflation rate in Canada slowed to 0.7% in December of 2020 from 1% in November, which was the highest since February of 2020. Figures came below forecasts of 1%, mainly due to lower air transportation prices (-14.5%) amid falling demand. Also, food inflation slowed to 1.1%, the lowest reading since May of 2018, amid favourable weather conditions in growing regions in the United States and Mexico which contributed to the increased supply of fresh fruit and vegetables. On the other hand, upward pressure came from higher shelter prices (1.6%). Excluding gasoline, inflation was 1%, down from 1.3% in November. source: Statistics Canada
Inflation Rate in Canada averaged 3.10 percent from 1915 until 2020, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Inflation Rate in Canada is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.60 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.